Question
The following balance sheet information is provided for Apex Company for Year 2: AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts
The following balance sheet information is provided for Apex Company for Year 2:
AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts payable$4,500Salaries payable11,500Bonds payable (Due in ten years)19,000Common stock, no par30,000Retained earnings15,650Total liabilities and stockholders' equity$80,650
What is the company's working capital?
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Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
